Question

Please post the answer in the TVM Calculation format. Looking for the N, I/YR, PV, PMT, and FV numbers specifically.

Future Value of Annuity Due 19. After consulting with your financial advisor, you figured that you need to invest $10,000 per year to accumulate enough money for your retirement. Assuming a rate of return of 8% and depositing $10,000 at the beginning of every year in your retirement account, how much will you have after 40 years? a. $2,797,810 20. After consulting with your financial advisor, you figured that you need to invest $10,000 per year to accumulate enough money for your retirement. Assuming a rate of return of 6% and depositing $10,000 at the beginning of every year in your retirement account, how much will you have after 40 years? a. $1,640,477 21. After consulting with your financial advisor, you figured that you need to invest $10,000 per year to accumulate enough money for your retirement. Assuming a rate of return of 8% and depositing $10,000 at the beginning of every year in your retirement account, how much will you have after 20 years? a. $494,229

Answer 1

19)

Take BAII plus and do as shown below:

Step 1	Press	2ND
Step 2	Press	PMT
Step 3	Press	2ND
Step 4	Press	ENTER
Step 5	Press	2ND
Step 6	Press	CPT
Step 7	Enter	0
Step 8	Press	PV
Step 9	Enter	8
Step 10	Press	I/Y
Step 11	Enter	-10000
Step 12	Press	PMT
Step 13	Enter	40
Step 14	Press	N
Step 15	Press	CPT
Step 16	Press	FV
Future value		$2,797,810

Please rate thumbs up